This study considers a detailed scenario of the present disposable contact lenses market and its market dynamics for the period 2022-2027. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
The disposable contact lenses market is expected to grow at a CAGR of 9.27% during the forecast period
Key Highlights
The paradigm shift towards premium-priced and cosmetic contact lenses is driving the industry. The lifestyle change increased the income of the people, primarily impacted the usage of regular disposable contact lenses.
The rise in e-commerce as a preferred distribution channel also drives the daily disposable contact lens market. Online shopping gives consumers control over when and where they can shop. According to e-commerce statistics on omnichannel marketing, it is found that 43% of online shoppers bought in bed, 23% in the office, and 20% while in a car.
New product approvals and launches also drive the daily wear contact lenses market. Increasing disposable contact lenses' acceptance and penetration rate gives the industry and vendors new opportunities. Also, cosmetic lenses with new technology and colors give new trends in the market. From 2015 to 2020, most unique products came into the industry and drove vendors' growth.
High Acceptance of Daily Disposable Silicone Hydrogel Contact Lenses is also driving industry growth. Mostly silicon hydrogel-based daily disposable is used for eye care due to their effectiveness, easy handling procedure, and properties. Thus it is highly preferred by ophthalmologists, thus positively impacting the industry growth.
Market Segments
Spherical disposable contact lenses dominated the segment as it is mostly used in the market, however the multifocal contact lenses is expected to grow at a faster CAGR of 12.35%.
Retail optical stores accounted for the major share in the market, however the online stores have the highest CAGR of 12.33% in the market. Increased usage of cell phones, better discounts in the online platforms has increased the purchase of disposable contact lenses through the online platform.
Silicone hydrogel material dominated the market and is expected to grow at a faster rate in the market. Due to its increased benefits to the end-users and more preference by the eyecare practitioners in the market.
Daily disposable contact lenses dominated the market by usage. Due to its increased benefits like infection free, zero maintenance, the preference of daily disposables is increasing.
Segmentation by Usage
Daily Disposable
Frequent/Planned/Extended Wear
Segmentation by Material
Silicone Hydrogel
Hydrogel
Segmentation by Application
Corrective Lenses
Therapeutic Lenses
Cob smetic Lenses
Segmentation by Distribution
Retail Optical Store
Hospitals & Ophthalmology Clinics
Online Store
Segmentation by Design
Spherical
Toric
Multifocal
GEOGRAPHICAL ANALYSIS
North America dominated the market by geography; however, APAC is growing at a faster rate with CAGR of 9.84%. Due to increased adoption of daily disposable contact lenses among the developed countries.
Segmentation by Geography
North America
US
Canada
APAC
Japan
China
India
South Korea
Australia
Europe
Germany
France
United Kingdom
Spain
Italy
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
Turkey
South Africa
Saudi Arabia
UAE
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage 4.1 Market Definition 4.1.1 Inclusions 4.1.2 Exclusions 4.1.3 Market Estimation Caveats 4.2 Base Year 4.3 Scope of the Study 4.3.1 Market Segmentation by Usage 4.3.2 Market Segmentation by Material 4.3.3 Market Segmentation by Application 4.3.4 Market Segmentation by Distribution Channels 4.3.5 Market Segmentation by Design 4.3.6 Market Segmentation by Geography
8 Market Opportunities & Trends 8.1 Shift to Premium & Cosmetic Contact Lenses 8.2 Rise of E-Commerce as Preferred Distribution Channel 8.3 New Product Approvals and Launches
9 Market Growth Enablers 9.1 Target Population With Aged Patient Demography 9.2 Acceptance of Daily Disposable Silicone Hydrogel Contact Lenses 9.3 Product Innovation & Technological Developments
10 Market Restraints 10.1 Complications Associated With Disposable Contact Lenses 10.2 High Cost of Disposable Contact Lenses 10.3 Low Acceptance of Vision Care in Low- & Middle-Income Countries
11 Market Landscape 11.1 Market Overview 11.2 Market Size & Forecast 11.2.1 Insights by Geography 11.2.2 Insights by Usage 11.2.3 Insights by Material 11.2.4 Insights by Application 11.2.5 Insights by Distribution 11.2.6 Market by Design 11.3 Five Forces Analysis 11.3.1 Threat of New Entrants 11.3.2 Bargaining Power of Suppliers 11.3.3 Bargaining Power of Buyers 11.3.4 Threat of Substitutes 11.3.5 Competitive Rivalry
